Nadar, 76, will proceed as president emeritus and strategic advisor to HCL Applied sciences, the corporate mentioned. C Vijayakumar, President and CEO, will even function Managing Director for 5 years, HCL Applied sciences reported in a BSE presentation. Nadar’s daughter, Roshni Malhotra-Nadar, took over as president of HCL applied sciences final July.
HCL Applied sciences posted income of $ 10.18 billion in fiscal 12 months 21, solely after TCS and Infosys.
HCL, thought of to be one of many first storage start-ups in India, began constructing calculators and microprocessors when it began. Inside two years, HCL had designed and launched India’s first 8C microcomputer, across the identical time as Apple.
HCL was synonymous with homegrown computer systems till the outsourcing alternative arose within the late 1990s, which he seized together with different IT service corporations in India. Its hardware enterprise slowly misplaced steam as India opened its marketplace for private computer systems (PCs) and the nation misplaced to China as a hardware vacation spot.
“If Shiv Nadar had been in California, he would have constructed HCL ten occasions larger than it’s as we speak, given the assist that’s accessible to startups there,” Vineet Nayar, founding father of Sampark Basis and former CEO of HCL, informed ET. Applied sciences. final 12 months. “Their efforts actually spawned a whole lot of corporations like NIIT Applied sciences, Comnet, and so forth.” he mentioned.
A fan of Rajnikanth, Nadar has usually mentioned that he’s impressed by the three ladies in his life: mom Vamasundara Devi, who impressed him to present again to society; his spouse Kiran Nadar, founding father of the Kiran Nadar Artwork Museum and who’s concerned in his philanthropic work, and his daughter Roshni Nadar Malhotra, who works with him in philanthropy and is now the Chair of the HCL Board of Applied sciences.
In 2008, Nadar was honored with the Padma Bhushan.
For greater than a decade, Nadar has stepped down from main HCL, counting on its executives to develop the enterprise, whereas specializing in establishing technique and philanthropy as president of the Shiv Nadar Basis.
Like Azim Premji, who stepped down as president of Wipro in July final 12 months to give attention to philanthropy, Nadar believes that India wants foundations that construct options at scale to resolve issues in society.
The muse, which started 25 years in the past with SSN Faculty of Engineering, now has six establishments below its umbrella, overlaying your complete spectrum of training and charting a brand new path within the area of artwork.